Mutual funds’ stake surged in these 10 stocks in the December quarter. Here are the details

In the recently concluded Q3, mutual funds (MFs) increased their stake by as much as 10 percentage points in 10 stocks, according to ACE Equity data. 

These were:

India Shelter Finance Corporation: Recently-listed India Shelter Finance Corporation has recorded the biggest surge in MF shareholding in Q3FY24. MFs bought a 9.93% stake in this housing finance company, previously, MFs had no stake in this company. India Shelter Finance Corporation has a current market cap of Rs 6,157 crore and its stock was trading at Rs 575 apiece on January 25, 2024.

Computer Age Management Services (CAMS):  MFs’ stake in CAMS surged 7.47 percentage points in Q3 to 11.25% from 3.78% in Q2FY24. This BPO/ITeS sector company has a current market cap of Rs 13,490 crore and its stock was trading at Rs 2,745 apiece on January 25, 2024.

Nazara Technologies: In the case of IT sector company Nazara Technologies, in Q3, MFs increased their stake by 6.88 percentage points to take their total shareholding to 14.12%. It has a current market cap of Rs 6,673 crore at the latest share price of Rs 910.

Fortis Healthcare saw a 6.55 percentage point jump in shareholding from MFs. The stake jumped from 18.49% to 25.04% in a quarter. Fortis Healthcare shares were trading at Rs 429 apiece and it had a market cap of Rs 32,387 crore.

TeamLease Services: The firm witnessed a 5.18 percentage point rise in shareholding from MFs. Mutual fund ownership stake has increased from 27.91% in Q2 to 33.09% in Q3. On January 25, it was trading at Rs 3,031 apiece and had a market cap of Rs 5,083 crore.

Happy Forgings: MFs bought 5.14% stake in Q3. Previously, MFs had no stake in this stock. Happy Forgings has a current m-cap of Rs 9,123 crore at the latest share price of Rs 968.

Petronet LNG: It saw a 5.08 percentage point jump in MF shareholding. Their stake increased from 4.84% to 9.92% in a quarter. Its stocks were trading at Rs 257 apiece and it had a market cap of Rs 38,490 crore.

Fusion Micro Finance, Arman Financial Services, and JK Tyre & Industries: These firms have also seen MFs raise their stake by 5.06 percentage points, 4.65 percentage points, and 4.46 percentage points, respectively, in Q3.